Cryptocurrency Has ‘Long-Term Potential,’ Says Apple Exec

John Parker - September 14, 2019

Apple is keeping an eye on cryptocurrency, as per an executive working with the America tech giant.

While talking with CNN, Jennifer Bailey, vice president of Apple Pay said that the company thinks cryptocurrency is interesting and has a long-term potential.

Bailey didn’t explain about the potential uses of cryptocurrency that Apple may pursue. She spoke about the future of the payments at the private CNN event which was help in San Francisco.

With Facebook preparing to introduce its own Libra stablecoin in 2020, it may be surprising if Apple wasn’t watching the technology. However, Bailey’s comment might come as a confirmation that something more may be going on behind the curtains at the company’s Cupertino headquarter.

Apple had submitted a new filing with SEC (Securities and Exchange Commission) in February which contained unseen details related to the company’s interest in the blockchain technology.

The document signalled that the computing giant was working on drafting ‘Blockchain Guidelines’ meant for the Responsible Minerals Initiative of the RBA (Responsible Business Alliance).

Apart from this, Bailey also said the company is working to resolve the issue which makes it difficult for the users of the Apple Pay to tip. She further explained why Apple suggested the new Apple Credit Card users to keep the card away from denim, leather and any other of their credit cards.

John Parker is a finance writer and journalist based in the Outer Banks, NC.

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